Street View: Colgate-Palmolive set for healthy revenue growth momentum

Apr 29, 202412:31 UTC

** Toothpaste maker Colgate-Palmolive CL raised forecast for annual organic sales growth on Friday, banking on resilient demand for its highly priced self-care and pet nutrition products

** Median PT of 23 brokerages covering CL stock is $95 - LSEG data

TURNAROUND ON SOLID FOOTING

** Goldman Sachs ("buy", PT: $99) says co's Q1 results give it confidence on CL's ability to deliver healthy revenue growth momentum ahead, especially owing to emerging market exposure

** UBS ("buy", PT: $105) says high-single-digit EPS growth is achievable for CL; believes CL's improved revenue/profit delivery justifies premium to peer set

** Jefferies ("buy", PT: $103) sees emerging turnaround in Colgate's business, supported by consistent reinvestments to drive sustainable revenue and EPS growth

** J.P. Morgan ("overweight", PT: $98) says CL offers combination of resilience in key categories, diversified presence in Emerging Markets, and opportunity to continue to recover share with multi-year increase in advertising spending

** The strong start of the year positions CL well into the year, with consensus likely moving higher - JPM